Holding in Company

Oxford Instruments PLC
21 August 2000



The Manager                              
Company Announcements Office             
Primary Markets Division                 
The International Stock Exchange         
P.O. Box 119                             
London EC2N 1HP                          

21 August 2000 
      
Dear Sir 
 
The Company has received notification today in accordance with Companies Act
1985, (as amended) that Phillips & Drew Life Limited has a notifiable
interest in 2,873,251 Ordinary Shares of 5p each which, represents 6.00% of
the issued share capital of Oxford Instruments plc. However, please note that
the notice from Phillips & Drew was dated 9th August, but due to a postal
strike in the Oxfordshire area over the last 10 days we have only received it
this morning. 
 
The shares to which this notification relates are registered as follows: 
 

                                                                   
            Registered Holder                     Number of Shares 
            Phildrew Nominees Limited a/c LF09    160,432          
            Phildrew Nominees Limited a/c LF20    2,712,819        
                                          TOTAL   2,873,251        
 
Phillips & Drew Life Limited is a subsidiary of UBS Asset Management Holding
(No.2) Limited which is also treated as having an interest in the above
shares. Phillips & Drew are authorised to make this aggregate disclosure on
behalf of UBS Asset Management Holding (No.2) Limited the registered address
of which is: 
 
Triton Court 
14 Finsbury Square 
London EC2A 1PD 
  
 
Della Gorham (Mrs) 
Assistant Company Secretary